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BMO Nesbitt Burns rebuilt its coverage of European institutions this week by hiring a six-person team away from UBS Securities.

Before going into the names of those involved, here's an interesting little tidbit on the respect that this group enjoyed. When Bank of Montreal CEO Bill Downe did road shows in Europe with investors, the meetings were often arranged and run by an equity sales team from UBS Securities, not by investment banking subsidiary BMO Nesbitt Burns.

The ground that's coming over to BMO Nesbitt Burns includes a four-person sales team based in Europe: Matthieu Debost; Dan Breeze; Alex Araujo and Andrew Whipp.

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BMO Nesbitt Burns also picked up Toronto-based trader Carlo Giarrusso, while Maor Amar joins the sales desk in Montreal. Both cover European clients from this time zone. UBS Securities has been losing talent since head office in Switzerland decided to cut employees bonuses. In the past, UBS Securities Canada has enjoyed a dominant position in selling Canadian equities to European accounts.

These moves were first reported on the Bill's Buzz blog run by executive search firm Vlaad and Co .

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